Why life assurance?
Life assurance, or “whole of life” cover, is intended to cover you until that journey ends and you pass away. In most cases, there is no set policy term for life assurance, and a claim can be made whenever the policy holder passes, meaning a pay-out is guaranteed.
- Protect your family
By protecting the things you value most often means that life assurance becomes crucial once you have a partner or children. Should anything happen to you, it’s important to think about the impact on your family. - Optional income protection
If you suffered a prolonged absence from work, by law your employer only has to pay statutory sick pay for up to 28 weeks. Income protection provides regular ongoing payments to help protect your family’s financial security and provide peace of mind. - Optional critical illness cover
Should the unthinkable happen, a critical illness policy can offer you and your family protection and peace of mind against financial burdens such as your mortgage, or potential alterations to your home after diagnosis.
How we can help
Our team of specialists can arrange the right level of cover for you. Whether you’re looking for a new policy or to amend existing cover, we can assist with your needs.
Insurance or assurance? The difference
Life assurance and life insurance can easily be confused, but they are in fact two different policies.
Life insurance covers you for a set amount of time that you decide when taking out your policy. This is usually between 10-25 years. Taking out insurance ensures you protect the things that matter to you most including any financial commitments should you pass on. It’s important to note that if you outlive the policy, you won’t get a pay-out or a refund of any premiums paid, but you can renew the policy if any of your circumstances haven’t changed.
The difference
The key difference is that life insurance only covers you if you pass away during the term of the policy, whereas life assurance guarantees that there will be a pay-out when you do eventually pass away. This often means that the monthly premiums tend to be higher for life assurance cover.
